SpaceX (NASDAQ: SPCX) shares fell sharply on Monday, June 22, posting their third straight day of losses and wiping roughly 23% off the stock’s value since its all-time high of $225.64 hit just days after its blockbuster Nasdaq debut on June 12, 2026 — the largest IPO in history at $75 billion raised.
The sell-off accelerated after reports emerged that SpaceX is preparing a bond offering of at least $20 billion, arranged by banks including Goldman Sachs, to repay a bridge loan used to acquire Elon Musk’s AI company xAI in February 2026. Despite the debt concern, SpaceX simultaneously announced a new $6.3 billion AI infrastructure deal with open-source startup Reflection AI, which will pay $150 million per month starting July 1, 2026, for access to advanced Nvidia GB300 chips at the Colossus 2 data center in Memphis. The deal partially pared the stock’s losses.
The computing deal adds to a growing roster of AI clients: Anthropic agreed to pay $1.25 billion per month for compute access through 2029, and Google signed on for $920 million per month from October 2026. Despite these revenue streams, SpaceX reported a net loss of $4.9 billion for 2025, a reversal from a profitable 2024, largely driven by xAI’s $6.36 billion in operating losses. The stock currently holds approximately 14.5% above its IPO price of $135, with market cap just above $2 trillion.
Source: TechTimes — SpaceX Stock Falls 16% on $20 Billion Bond Debut